In our previous post titled how to make adjusting journal entries (AJE), we have discussed the common types of adjusting entries, namely, accrued revenues, accrued expenses, unearned revenues, prepaid expenses, depreciation (estimation), change in accounting estimate, and prior … [Read more...]
How to Make Adjusting Journal Entries
In our previous article, we’ve discussed about the preparation of a trial balance. After the trial balance is prepared, we need to ensure that our accounting records are accurate and our financial reports will be fairly presented. Adjusting journal entries (AJE) are necessarily … [Read more...]
How to Make Accounting Journal Entries
After identifying and measuring your business transactions, you will now move to the recording process of accounting. The first phase of recording is making the journal entries (journalizing) that should be recorded in the general journal or special journals, such as sales … [Read more...]